Quote on The GDP growth projection rises for the current financial year by Mr. Rohit Garg, Co- Founder& CEO, of Olyv (formerly SmartCoin)
Below the Quote on The GDP growth projection rises for the current financial year by Mr. Rohit Garg, Co- Founder& CEO, of Olyv (formerly SmartCoin)
The Reserve Bank of India (RBI) has maintained the repo rate at 6.5%, marking the eighth consecutive time post Lok Sabha Elections 2024. This decision underscores the central bank's commitment to fostering stability amidst robust economic growth and a slight easing of inflation to 4.83%. Aligned with the Federal Reserve's approach, the RBI aims to address fluctuating food prices and liquidity volatility, maintaining vigilance in liquidity operations to counter election-induced pressures. The Indian government's pursuit of reducing the fiscal deficit, supported by RBI dividends, further reinforces economic stability. Despite revising the GDP forecast for FY25 to 7.2%, the RBI opted to retain the consumer inflation forecast unchanged. India's economic fundamentals are robust, with FY24 witnessing GDP growth of 8.2%, while inflation remains within the RBI's target range. The policy tone reflects confidence in domestic dynamics while acknowledging global uncertainties.
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